Credit card lenders are faced with the problem of fraudulent credit applications and associated revenue loss when credit is obtained with a misrepresented identity. Identity fraud continues to present difficult challenges for today's financial institutions, as many lenders unknowingly open credit accounts based on applications having synthetic, stolen or manipulated identity information. Although such fraud incidents are rare, they can be very costly. Technically well-informed fraud perpetrators with sophisticated deception schemes are likely to continue targeting financial institutions, particularly if fraud detection and prevention mechanisms are not in place. Balancing the threats of identity fraud with efficient service for legitimate clients creates a significant challenge for lenders.